I own quite a few Tikkas and they are all shooters - MOA or better, and usually better.
I shoot everything from the cheap Winchester power points to the more expensive Federal Premium Nosler Partitions, etc. Sometimes the cheap stuff shoots just as accurately as the more expensive stuff. Remember, premium ammo doesn't necessarily mean better accuracy. Some bullets, like Barnes X, Trophy Bonded, and Swift-A-Frame have very high weight retention, mushroom beautifully, and penetrate like heck, but are generally not as accurate as, say, a lesser expensive Sierra GameKing boattail.
As was stated before, make sure that your barrel is free floating. Other than that, I highly suspect that the scope is the problem. What kind of a scope is it? Even good scopes sometimes go bad in a hurry, and can't hold their POI worth a darn. My Tikka Stainless Laminated in .25-06 shoots almost 1/2 inch groups, and it also has Warne Maxima silver rings, but it has an Elite 4200 4x-16x-40mm scope on it - no cheap thing.
Also, did you clean out the barrel of the factory lubricants it has inside before you shot it?
Zachary